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Wills & Trusts
A Last Will and Testament is a very important legal document – probably the most important you will ever sign. It passes on a lifetime’s hard work to those you love and care for. Given its importance, it’s vital you get it right.
A Will in its most simple form is an important basic level of planning that allows you to:
- Distribute your wealth (however modest) to your chosen beneficiaries on your death
- Choose Executors to be responsible for administering your estate
- Nominate guardians to look after your children
- Defer the age at which your beneficiaries inherit if necessary
- Leave gifts of items or money to friends, family or charity
- Make provisions for your pet(s)
In later life, the threats to the inheritance you plan to leave your loved ones grows rapidly. Sometimes people don’t discover these threats until it is too late. A well written Last Will and Testament which includes the appropriate use of trusts can help protect your home and savings after you have gone from threats such as:
- A co-owners Long Term Care
- The marriage of your spouse or partner after your death which could result in your chosen beneficiaries inheriting nothing
- Inheritance Tax
- Divorce and bankruptcy of your chosen beneficiaries
There’s plenty to think about when writing your Will and it’s important to take professional advice from a specialist. An estimated 27 million adults in England and Wales don’t have a Will and findings suggest that the vast majority of couples who do have a valid Will have the most basic of Wills – a ‘Joint Will’ or ‘Mirror Will’ – which leaves everything to a spouse or partner, and then to children (or other chosen beneficiaries). Whilst suitable for many as a basic level of planning, there are some hidden risks with this form of will, one of which can have a dramatic impact on those you will one day leave behind. Find out how to protect what you’ve worked hard for – enquire today.
There’s plenty to think about when writing your will and it’s important to take professional advice. Find out how to protect what you’ve worked hard for – call us on 0114 288 1104 or fill the form below to arrange a consultation.
“I was very impressed by the way Estate Planning Services identified solutions to my estate planning which my solicitor had not suggested. Their expertise means we have achieved greater protection of our property by creating a family trust”